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REGISTERED NUMBER: 12010686 (England and Wales)


















LAT LETTINGS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023






LAT LETTINGS LTD (REGISTERED NUMBER: 12010686)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


LAT LETTINGS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: K L D Maher Esq
Mrs S A Maher





REGISTERED OFFICE: 23 Trinity Square
LLANDUDNO
North Wales
LL30 2RH





REGISTERED NUMBER: 12010686 (England and Wales)





ACCOUNTANTS: Hawley and Company
Chartered Accountants & Chartered Tax Advisers
First Floor Suite
23 Trinity Square
LLANDUDNO
North Wales
LL30 2RH

LAT LETTINGS LTD (REGISTERED NUMBER: 12010686)

STATEMENT OF FINANCIAL POSITION
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 343,994 194,035

CURRENT ASSETS
Debtors 5 3,984 282
Cash at bank and in hand 16,041 17,198
20,025 17,480
CREDITORS
Amounts falling due within one year 6 6,451 9,818
NET CURRENT ASSETS 13,574 7,662
TOTAL ASSETS LESS CURRENT
LIABILITIES

357,568

201,697

CREDITORS
Amounts falling due after more than one year 7 (331,284 ) (192,629 )

PROVISIONS FOR LIABILITIES 9 (4,164 ) (868 )
NET ASSETS 22,120 8,200

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings 22,118 8,198
SHAREHOLDERS' FUNDS 22,120 8,200

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

LAT LETTINGS LTD (REGISTERED NUMBER: 12010686)

STATEMENT OF FINANCIAL POSITION - continued
31 MAY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 February 2024 and were signed on its behalf by:





K L D Maher Esq - Director


LAT LETTINGS LTD (REGISTERED NUMBER: 12010686)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

LAT Lettings Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - no depreciation is charged
Fixtures and fittings - 15% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Trade and other debtors
Trade and other debtors are initially recognised at their transaction price, less impairment losses for bad and doubtful debts.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of 3 months or less.

Trade and other creditors
Trade and other creditors are initially recognised at their transaction price.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

LAT LETTINGS LTD (REGISTERED NUMBER: 12010686)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 June 2022 165,809 36,467 202,276
Additions 152,657 1,807 154,464
At 31 May 2023 318,466 38,274 356,740
DEPRECIATION
At 1 June 2022 - 8,241 8,241
Charge for year - 4,505 4,505
At 31 May 2023 - 12,746 12,746
NET BOOK VALUE
At 31 May 2023 318,466 25,528 343,994
At 31 May 2022 165,809 28,226 194,035

The directors have considered the value of the investment properties as at 31 May 2023 and they have determined that no changes to the carrying value of the assets are required.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Prepayments 3,984 282

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 2,400 4,500
Deferred income 2,797 3,823
Accrued expenses 1,254 1,495
6,451 9,818

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loan 107,596 108,076
Amount owed to related party 223,324 84,487
Directors' loan account 364 66
331,284 192,629

LAT LETTINGS LTD (REGISTERED NUMBER: 12010686)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 109,996 112,576

The bank loan is secured by a fixed charge over one of the freehold properties.

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 4,164 868

Deferred
tax
£   
Balance at 1 June 2022 868
Accelerated capital allowances 3,296
Balance at 31 May 2023 4,164

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2